Latest / Simply Bitcoin / Proof: Bitcoin MASS ADOPTION is Happening | EP 584

Transcript

Proof: Bitcoin MASS ADOPTION is Happening | EP 584 · Simply Bitcoin

• 0:17
  Yo, welcome to Simply Bitcoin live.
• 0:20
  Today is September 22nd 2022. We are number one source for the
• 0:26
  peaceful Bitcoin Revolution. We cover the breaking news
• 0:29
  culture and me manic Warfare. We will show you why only
• 0:32
  Bitcoin can give you true Financial sovereignty when we
• 0:37
  mean that we obviously mean Freedom.
• 0:39
  Today, we have a very special show lined up for you guys.
• 0:43
  We're going to talk about Bitcoin adoption, and we're
• 0:46
  going to talk about how the incentives of Bitcoin are
• 0:49
  irresistible. There was an article by Reuters,
• 0:53
  basically, saying the thing that we've been all, we've been
• 0:56
  making the case for that argentines argentines
• 0:59
  argentinians are using Bitcoin to they're using Bitcoin as a
• 1:06
  hedge against inflation. And remember inflation, for
• 1:10
  someone living in Argentina is very different than inflation
• 1:12
  from And living in the west. Yeah, you know, we have historic
• 1:16
  inflation, it's 89 percent. But in order to Tina's more than
• 1:20
  50%, right? You you don't have an
• 1:22
  alternative. And what's really interesting
• 1:25
  also is that remember the IMF bailout, the IMF bailout came
• 1:29
  with contingencies saying, hey, you have 2D incentivize the
• 1:34
  adoption of Bitcoin and shit goings.
• 1:37
  Well, it doesn't look that that's working and that goes to
• 1:41
  the case that we've been trying to make for you guys.
• 1:43
  Why is that incentives are always stronger than coercion
• 1:47
  and that's why Bitcoin will win. Ultimately, but first, I want to
• 1:52
  say hello to my special co-host. He's always optimistic.
• 1:56
  He is optimistic Fields. How you doing, buddy?
• 2:00
  I'm good Nikka, special. As in special ed obviously, but
• 2:05
  good morning everyone. How you doing?
• 2:07
  Happy to be here. Super excited, I'm feeling good.
• 2:10
  I think I'm a little too jacked up this morning.
• 2:12
  Nico. Like my hair All messed up drank
• 2:15
  like six cups of coffee. This morning, I'm excited.
• 2:18
  I got heated this morning because the financial times
• 2:21
  dropped an article saying that you can't trust Bitcoin
• 2:24
  maximalist. So of course we're going to
• 2:27
  cover this opinion piece and and you know well we'll just leave
• 2:32
  it at that. Let's just leave it at that.
• 2:34
  Yeah, I think it's going to be a good show, bro.
• 2:36
  I'm excited for this one. And did we lose our guest today?
• 2:40
  It's his internet. Messing up?
• 2:42
  Yeah. Ian, you know, he, he looks like
• 2:46
  he couldn't make it but you know, this is live show.
• 2:48
  We're going to keep it going. If he drops back in will
• 2:51
  introduce you guys. He's a fellow pleb.
• 2:52
  He is freaking awesome, dude. I'm really, really excited for
• 2:57
  the show because once again, Bitcoin expect is exposing the
• 3:02
  tyrants incentives. All right, let's do this.
• 3:08
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  Visit nottle, Dottie you today, All right.
• 3:35
  Oh looks like Adrienne, looks like Adrian's back but guys you
• 3:39
  know the deal and I made sure to check Clark Moody dashboard is
• 3:44
  back, guys, its back its back and it's all its greatness.
• 3:48
  So we got two versions of Adrian coming back.
• 3:51
  He's having trouble with his internet.
• 3:53
  Anyways at the time of this recording, the Bitcoin price is
• 3:57
  18,000 908 SATs per dollar also known as Moscow, time, 5280 8.
• 4:04
  Block height, 750 5245 reachable Bitcoin nodes, fourteen
• 4:11
  thousand, four hundred and eighty three blocks to The
• 4:14
  Happening, 80 4755. Having estimates April 22nd 2024
• 4:21
  total lightning network capacity 4814 capacity.
• 4:27
  Value, 91 million dollars took a little bit of a dip I can't wait
• 4:31
  for that number to go above 100 million u.s. dollars.
• 4:34
  Realized monetary inflation, taking the US dollar to Absolute
• 4:38
  School 1.78 percent market capitalization.
• 4:42
  Bitcoin is still a little baby and it's a good time to stack,
• 4:48
  guys. I hope you guys got.
• 4:50
  We I think we went to 18 318, five.
• 4:53
  I managed to get some at 18 5, that those are some cheap SATs
• 4:57
  man that felt really, really, really good.
• 5:01
  I'm not gonna lie anyways. Today, I want to talk This the
• 5:06
  rate r, a kite Yesterday, by the FED now due dates.
• 5:11
  It's absolutely crazy. And I actually tweeted about it.
• 5:14
  No, no. I didn't have the Tweet pulled
• 5:15
  up. But look, the whole economy in
• 5:20
  the whole future. And everyone's, you know, like
• 5:22
  either with the other, whether the stock market is going to go
• 5:25
  up or down, is all dependent about what the chairman is going
• 5:30
  to say. And when I say chairman, I'm not
• 5:31
  talking about the chairman Xi Jinping, NG chairman of the
• 5:35
  Chinese Communist party. I'm talking about Jay Powell,
• 5:38
  right? So, isn't the central planning.
• 5:43
  How is this different from the from a communist country?
• 5:46
  Like it's, it's, it's pretty crazy to me.
• 5:50
  But anyways, he did a rate rate, a rate hike of 75 basis points,
• 5:56
  right? Some people were expecting a
• 5:57
  hundred anyways, now, let's compare that to Bitcoins
• 6:01
  monetary policy, shall we? So we don't know, right?
• 6:05
  We have no idea. We wait for a man in the suit.
• 6:08
  That is not elected. He's chosen to get to decide the
• 6:12
  direction of the US economy. Now let's take a look at
• 6:16
  Bitcoins monetary policy, right shout-out?
• 6:19
  Documenting Bitcoin, you do an awesome job by Brother.
• 6:23
  The rate of Bitcoin Supply issuance for the next hundred
• 6:27
  and eighteen years. That's right, ladies and
• 6:29
  gentlemen, we know the monetary policy of Bitcoin for the next
• 6:33
  hundred eighteen eighteen years. We didn't even know what the
• 6:38
  monetary policy was going to be. We are all speculating on what
• 6:42
  it was going to be. We went from 75, some We're
• 6:45
  thinking 100, some people were thinking 75, but how crazy is
• 6:49
  that the whole world economy surrounds itself and waits for a
• 6:55
  guy in a suit hiding behind this Fiat, emblem to say, yes, this
• 7:01
  is where the direction of the US economy is going to.
• 7:03
  It is, it's just, it's absolutely absurd.
• 7:07
  And now let's compare that to Bitcoins.
• 7:09
  Right, let's go to where we are now.
• 7:13
  We are at 2020, so, So the block reward is six point one, two
• 7:17
  five, six point two five, the block reward 2024 is 3.12 20:28,
• 7:23
  1.56, twenty thirty two point seven, eight, twenty thirty six
• 7:28
  point three nine. Twenty forty .19, 2044 .09 2048
• 7:36
  .02. And it just keeps getting
• 7:39
  smaller and smaller and smaller. It's literally night and day and
• 7:44
  I also wanted to This video by Jamie Diamond and let's take a
• 7:49
  look at what he has to say about Bitcoin and shit coins.
• 7:54
  Let's check it out, mr. Diamond, if I can ask you one
• 7:57
  other question, I'd like to ask about another topic that I've
• 8:00
  been very focused on which is the rapid development of digital
• 8:02
  assets and related Financial technology.
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  I believe the United States should lead the development of
• 8:06
  emerging Technologies, like distributed Ledger's and
• 8:08
  blockchain and the federal government should provide the
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  certainty needed for the country to serve as a hub for financial
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  Innovation. And I've developed Legislation
• 8:15
  to help to find Qualified stable coins which I know the chairman
• 8:18
  and the ranking member are also working on and to select the
• 8:21
  appropriate regulator. I've read that you're a little
• 8:23
  skeptical of some of these new technologies but what are the
• 8:26
  biggest things keeping you from being more active in the space?
• 8:29
  And do you worry that we would miss the boat and give other
• 8:31
  nations like China, an opportunity to advance their
• 8:33
  digital currency and other payment systems that could
• 8:36
  undermine the US dollar and I'd love to get some of your
• 8:38
  thoughts on that. So you have to separate
• 8:42
  blockchain, which is real D Phi, which is real.
• 8:45
  Jurors tokens that do something and deliver information money
• 8:49
  ideas, simplify smart contracts. That's one thing, I'm not a
• 8:53
  skeptic, like I'm a major skeptic on crypto tokens, which
• 8:57
  you call currency like Bitcoin, they are decentralized, Ponzi
• 9:01
  schemes and and the notion that's good for anybody is
• 9:05
  unbelievable. So we sit here in this room and
• 9:07
  talk about a lot of things, but two billion dollars have been
• 9:10
  lost every year. Thirty billion, dollars of
• 9:13
  ransomware, AML sex. Fucking stealing it's dangerous.
• 9:18
  There'd be nothing wrong with the stable coin properly, just
• 9:21
  like a money market fund, properly regulated.
• 9:24
  Properly regulate, you have something today and they are not
• 9:27
  JPMorgan has a JP more. We are a big user blockchain as
• 9:30
  a JP Morgan coin, which is a token, but if you do send it to
• 9:34
  us, we give you a u.s. dollar. It's a dollar Deposit, they can
• 9:37
  be moved just a way crypto currencies.
• 9:39
  Can be moved, stable value, very low cost. and so, Decentralized
• 9:48
  Bitcoin bad tokens like stable coins, which could easily be
• 9:55
  captured by Regulators. Our shit coin JPMorgan, shit
• 10:00
  coin that uses the blockchain. Good.
• 10:04
  Block chains are inefficient databases their dog crap right
• 10:11
  blockchains function as they shine as open ledgers, right?
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  That's what they're for. And the only blockchain that's
• 10:19
  worth its salt because it's decentralized because it's
• 10:22
  backed by proof of work is Bitcoin.
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  Centralization. Good decentralization like
• 10:31
  Bitcoin bad, right? We've heard that a thousand
• 10:33
  times but I mean what did you what do you expect from someone
• 10:36
  that has the most to lose if something like Bitcoin wins.
• 10:40
  It doesn't surprise me whatsoever.
• 10:43
  You know, so dude, look what I'm trying to do what I'm going to
• 10:47
  try to paint out this entire when I'm going to try to paint
• 10:51
  out this entire episode guys, is The differences between the
• 10:56
  worlds, right? The worlds that they want you to
• 10:59
  continue living in and the world that Bitcoin provides you.
• 11:04
  And I'm going to get to a little bit during the new section, but
• 11:06
  what we've covered so far? It's just the differences in
• 11:09
  monetary policy alone. Hundred and eighteen years, we
• 11:14
  know what the monetary policy of Bitcoin is we know what the
• 11:16
  issuance of Bitcoin will be and the world that they're
• 11:19
  advocating for depends on a guy in a suit.
• 11:22
  Every couple of weeks getting to dictate, just off the top of his
• 11:26
  head and then those decisions have caught as catastrophic
• 11:30
  consequences to everybody else and now with Jamie Dylon
• 11:33
  decentralization bad. What about all the advantages of
• 11:37
  Bitcoin? What about the fact that Bitcoin
• 11:39
  is protecting millions of people and soon enough?
• 11:42
  Billions of people from being stolen from bye-bye by
• 11:47
  inflation. What about that?
• 11:48
  Jamie dimon is that a Ponzi scheme?
• 11:53
  It's funny. It's really funny.
• 11:55
  Abdi. What are your thoughts brother?
• 11:57
  Well, first off like, wow. I I literally can't believe I
• 12:02
  just heard Jamie dimon, say that right now.
• 12:04
  I'm glad I didn't watch that video before because that was
• 12:09
  absolutely amazing. Like, first and foremost, let me
• 12:12
  let me get back to the the Fed rate stuff because I say it all
• 12:14
  the time. You know like imagine caring
• 12:17
  about what a small group of people are doing to your money
• 12:19
  supply. Like can't be me, couldn't
• 12:21
  relate. This is why we're here.
• 12:23
  Are separating money from State. Satoshi was able to domesticate
• 12:27
  human greed by taking the power of manipulating the money supply
• 12:30
  out of the hand of humans. And it's absolutely amazing
• 12:33
  next, wow, just like, wow. JPMorgan I like, what year are
• 12:38
  we in? He just said, like blockchain,
• 12:41
  good defy, good, stable coins, good but Bitcoin bad like the pr
• 12:46
  spin. Here is absolutely insane.
• 12:48
  Like he's lying through his teeth right here.
• 12:51
  It, that was insane. Jane, but, let's not forget that
• 12:55
  JPMorgan owns a portion of a theorem infrastructure.
• 12:58
  So we obviously know whether we're his bias is coming from
• 13:02
  and, and we know exactly what he's trying to angle in that
• 13:06
  speech. It's like, okay, we, you know,
• 13:08
  like what he say, he called he called us, he called us like the
• 13:13
  typical criminals, like money launderers, we're facilitating,
• 13:17
  all kinds of criminal activities with decentralized currencies,
• 13:21
  like Bitcoin, and He says like, oh yeah, but our shit coin is
• 13:25
  good and I shit Quinn is pegged to the dollar.
• 13:28
  Will, you know, stable coins good?
• 13:29
  Like, we just need to regulate the decentralized coin.
• 13:32
  It's like, man, is this absolutely insane.
• 13:35
  I can't believe people would actually listen to this and fall
• 13:39
  for the ridiculous PR spin going on here.
• 13:42
  Like someone said in the chat, best their incentives aren't
• 13:46
  aligned with Bitcoin hands. Why they?
• 13:47
  Continue to double down and talk smack on bitcoin because Bitcoin
• 13:52
  literally Hates their job. So of course, they are going to
• 13:56
  spin it in such a way that it makes us all look bad.
• 13:59
  So that the average person that's just reading headlines
• 14:01
  that just getting tidbit doesn't dive deeper into Freedom money,
• 14:06
  which is Bitcoin but oh absolutely amazing.
• 14:09
  I can't believe I just heard that.
• 14:11
  Yeah, no, it's 100% true. Let's see if we can get Adrienne
• 14:15
  on during the news. But anyways, let's check it out,
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  but only on crypto, cloaks.com. All right, all right, all right,
• 14:46
  all right, all right. All right, guys.
• 14:50
  This is what winning looks like, this is what winning looks like,
• 14:55
  and why are we winning? Why are we winning?
• 14:57
  Why even after everything they throw at us, all these powerful
• 15:01
  institutions, their propaganda, all their spin.
• 15:04
  All their misrepresentations. Why are we winning?
• 15:06
  Because the incentives are irresistible.
• 15:10
  That's why we're winning that, is why we are winning.
• 15:13
  Anyways, let's check this out Bitcoin lures, inflation.
• 15:17
  Weary argentines despite Josh Savers in South American in the
• 15:22
  South American Nation are increasingly being drawn to
• 15:26
  cryptocurrency to offset years of painful inflation.
• 15:30
  Now, running nearly 60% shrugging off a recent market
• 15:33
  crash and El Salvador's. Troubled experiment with virtual
• 15:37
  tender, that's right, they always have to insert the spin.
• 15:41
  They always have to insert the framing, right?
• 15:45
  They're turning to this. But how could they?
• 15:48
  Because there is a 60% Sent market crash and El Salvador.
• 15:52
  We have to talk about El Salvador, the local to continue
• 15:56
  the article. The local environment is pushing
• 15:58
  people to protect their capital and cryptocurrencies.
• 16:01
  And so we could see growth speeding up said, Mato
• 16:05
  Lieberman. One of the founders of the cafe,
• 16:08
  which is aimed at promoting the use of digital tender throughout
• 16:12
  Latin America. The potential put the the growth
• 16:15
  potential is enormous. He said adding that most local
• 16:18
  users were buying it as a way to Or their savings, it is an
• 16:22
  avalanche that won't be stopped an April report from America's
• 16:26
  market intelligence showed crypto penetration in.
• 16:28
  Argentina was 12%, around double the level of Mexico and Brazil,
• 16:34
  adoption, and hyperinflation plague.
• 16:35
  Venezuela is even higher. According to a recent report by
• 16:39
  Chain analysis, the draw is a lack of confidence in the local
• 16:43
  Peso currency which has depreciated 14 percent this year
• 16:47
  against the daughter Capital controls, limiting.
• 16:50
  Foreign exchange to 200 dollars. Monthly are also spurring crypto
• 16:54
  adoption. So think about it this way.
• 16:56
  Think about it this way. What did you expect people to
• 17:01
  do? Tell me right now.
• 17:03
  What did you expect people to do?
• 17:08
  They tried to control how much money you can get out of a bank.
• 17:11
  We played you a video from Lebanon.
• 17:14
  Did it forced people to get so extreme that they that they were
• 17:18
  robbing banks, it wasn't even a rob it was there trying to get
• 17:22
  the money out of their bank and they had to rob the bank in the
• 17:25
  process. They have to Heist, the bank,
• 17:27
  which has led Lebanon to close the banks and definitely, and
• 17:32
  then they frame it as if o. People are robbing the bank, the
• 17:34
  bank robbed you guys in the first place.
• 17:36
  And people just Their money back and they expect people to keep
• 17:41
  their money into the system. They expect us to trust them
• 17:45
  with Central Bank, digital currencies.
• 17:49
  No, no, this is why people are adopting Bitcoin anyways, annual
• 17:54
  inflation, Rose to 58 percent in April and can go as high as 70
• 17:57
  percent this year, a rate, which makes crypto attractive.
• 18:00
  Despite the recent again more flood sprinkled in there,
• 18:04
  despite the recent crash which has seen stable coins like Tara
• 18:06
  USD Tara slide and Bitcoin dropped to 60 month, low, Victor
• 18:11
  liver are 044 an IT specialist in Buenos Aires Province puts
• 18:15
  his extra savings into stable coin in Bitcoin, each month
• 18:18
  after using. His 200 quota to convert pesos
• 18:21
  to dollars. He doesn't bother bother with
• 18:23
  fixed term, peso savings. Basically, it's because I lose
• 18:27
  less. He said, what with Argentinian
• 18:29
  inflation of between 60 to 70 percent, fixed terms, paying 30
• 18:33
  to 35%, it just doesn't work. Why would you do something if
• 18:37
  you're going to lose money? Local crypto platforms, like
• 18:40
  lemon cash and went. Oh, beat told Reuters.
• 18:42
  That their user base has ballooned over the last year.
• 18:45
  The central bank has warned repeatedly about the risk of the
• 18:49
  Investing in volatile currencies, and some adopters
• 18:51
  are taking it carefully. Okay?
• 18:53
  What about the risk of leaving your money, in a fiat currency,
• 18:56
  that continues to lose value? Why do they never mention that?
• 19:00
  And then this kind of makes sense why when when art, the,
• 19:06
  when Argentina came to the IMF, for a bailout part of the
• 19:10
  bailout condition was to D, incentivize the adoption of
• 19:16
  Bitcoin and shit coins in Argentina.
• 19:19
  To read the article, the Argentine Senate on Thursday
• 19:21
  night approved. A debt deal of 45 billion with
• 19:24
  the monetary font linked to an agreement.
• 19:27
  That includes a provision. Discouraging, the use of
• 19:30
  cryptocurrencies But people don't care.
• 19:33
  And the reason that people don't care is because of the
• 19:36
  incentives. If you're an Argent, I, if you
• 19:39
  are an Argentine and you're losing 60 to 70% of your
• 19:43
  purchasing power, and the government installed Capital
• 19:46
  controls, meaning, you can convert your Argentinian Pesos
• 19:50
  to something like the dollar. Basically they have you hostage,
• 19:54
  what did you expect? And the IMF that is supposed to
• 19:57
  be helps countries doesn't give a flying f They continue to
• 20:03
  forward, to try to force people to use of money, that loses
• 20:08
  value, as long as they maintain control, but it wasn't only the
• 20:13
  IMF. It was also the United Nations.
• 20:15
  We read, we read you guys this report.
• 20:17
  It's from the United Nations, United Nations spells out
• 20:20
  actions, to curb, cryptocurrencies, and developing
• 20:22
  countries. And it's funny because at the
• 20:24
  top it says prosperity for all and at the bottom, right?
• 20:28
  A continues. And it continues to say well,
• 20:32
  Currencies can facilitate Trent remittances.
• 20:34
  They may also enable tax evasions avoiding through
• 20:37
  illicit Finance, just as just as if to to to a tax Haven.
• 20:41
  Where ownership is not easily identifiable in this way.
• 20:45
  Cryptocurrencies may also curb effectiveness of capital
• 20:49
  controls a key instrument for developing countries to preserve
• 20:53
  their policy space and macroeconomic stability.
• 20:57
  What about the people? Yeah.
• 21:01
  Yeah. There were putting, they were
• 21:02
  installing a 200 dollar Capital control Eve by but still forcing
• 21:07
  the people of Argentina to continue to use their shit coin.
• 21:14
  What is this dude? What type of world do these
• 21:18
  people want us to live in? Sixty to seventy percent
• 21:23
  inflation. You're using, you're losing 60
• 21:26
  to 70% of your purchasing power. If you try to go to the dollar
• 21:32
  and know only two hundred dollars at a time so what are
• 21:35
  you going to do? You're going to seek an
• 21:37
  alternative and that alternative is Bitcoin.
• 21:39
  Bitcoin is the only one that will give you true Financial
• 21:41
  sovereignty. Shit, coins, including stable
• 21:44
  coins, will give you a false sense of financial sovereignty?
• 21:49
  This is mass adoption happen. In front of our eyes.
• 21:53
  And it goes back to something that we've been saying for a
• 21:55
  very long time. Why is this happening?
• 21:58
  The incentives of Bitcoin are irresistible?
• 22:01
  Are you the individual going to pick something that they can
• 22:04
  debase and they can censor or you going to pick something that
• 22:09
  is hard for them to confiscate. Censorship resistant and also
• 22:17
  and also dip. No also impossible for debate
• 22:20
  for them to debase. What are you going to choose as
• 22:23
  an individual? It's not rocket science.
• 22:27
  This is how we win, man. 12% of Argentina's already adopting
• 22:32
  Bitcoin in Nigeria. It's up to 33% in Venezuela.
• 22:38
  It's even it's about in between that why?
• 22:41
  Why is this happening? Because their Fiat currencies
• 22:45
  are shit. And in the process, the
• 22:47
  totalitarian Tsar forced to show their hands.
• 22:51
  Whether that's the UN whether that's the IMF and say, hey,
• 22:54
  Hey. Even though their shit, we still
• 22:57
  want you to use them so that we can more easily control you.
• 23:03
  Well, I got something to say to them.
• 23:05
  Fuck, you guys, we are winning and there's nothing you could do
• 23:09
  about it, Opti. What are your thoughts?
• 23:11
  Go off? King.
• 23:14
  First off, I love this energy. This is this is why I'm here is
• 23:18
  to hear these Nika, Jones ramps. This is this is why I know I'm
• 23:23
  doing the right thing with being Partners in the Eco because you
• 23:27
  bro the way you communicate it just it resonates with people S
• 23:31
  as the mean goes check your financial.
• 23:33
  Did you guys? I've said it before and and me
• 23:35
  and Nico are both Latinos like as a Latin person.
• 23:38
  You know. I think it just makes a lot more
• 23:40
  sense to people in Latin America that have dealt with currency
• 23:45
  debasement that have dealt with corruption, that have dealt with
• 23:48
  issues that people in the first world haven't felt.
• 23:50
  And furthermore, I think it's one of those other memes of
• 23:54
  like, look, the third world will latch onto Bitcoin a lot more
• 23:59
  easily than the first world. Because they understand these
• 24:02
  problems with Fiat. Money.
• 24:04
  How many countries are currently going through?
• 24:06
  Hyperinflation? Like how many countries have
• 24:08
  dealt with hyperinflation in the past?
• 24:10
  So there's something about it like going through these
• 24:13
  experiences, makes it that much easier for you to understand why
• 24:17
  Bitcoin is so important why Bitcoin is economic empowerment.
• 24:21
  And furthermore, of course, like we said, I say it all the time.
• 24:25
  Of course, like the IMF and the powers that be are gonna are
• 24:28
  going to tell you that you shouldn't be using Bitcoin.
• 24:31
  I always going to bring up the Guard quote.
• 24:33
  Was she said that there's an exit door, then people are going
• 24:36
  to use it. They have to paint Bitcoin in
• 24:38
  such a way that it makes us look bad because they understand what
• 24:42
  we understand. That Bitcoin is economic
• 24:45
  freedom, Bitcoin is economic empowerment and the more people
• 24:48
  that use Bitcoin as Nico's saying, you know the more we
• 24:50
  have people adopting Bitcoin on an individual level the more
• 24:54
  they can't stop this revolution. So again guys the revolution is
• 24:58
  self, custody spread the sound money.
• 25:00
  Gospel people need to understand why the The money system, why
• 25:04
  the Legacy Financial system is broken.
• 25:06
  And this is why we do this every single day, because people still
• 25:09
  don't understand the basic problem going on in the world
• 25:12
  and it is, the money is broken. Stupid, fix the money, fix the
• 25:15
  world. And I just love to see people
• 25:18
  starting to wake up to this idea because as, you know, as a once
• 25:23
  once jaded Bitcoin Ur, you get tired out here spreading Bitcoin
• 25:27
  signal to people and no one listening.
• 25:29
  But when you see signs like this, a people waking up to the
• 25:32
  idea. That Bitcoin is economic freedom
• 25:35
  that Bitcoin is the opt-out solution to this madness.
• 25:39
  It's like okay. Like we are doing the good work
• 25:42
  out here and we're spreading the signal so that people can
• 25:44
  understand that we can fix this guy's and all you got to do is
• 25:49
  opt out of the Fiat system, you know, take that individual risk
• 25:52
  and saving Bitcoin and your life gets so much better.
• 25:55
  Absolutely amazing. Bars.
• 25:59
  Adrian, what are your thoughts? My friend are you there with us?
• 26:10
  I looks like unfortunately looks like Adrienne is having some
• 26:15
  internet issues but anyways I'm gonna move on to this gonna get
• 26:18
  a fly. Yeah, we got some time, I'm
• 26:21
  gonna fly through it pretty quickly.
• 26:25
  You could say I mean how do I say this?
• 26:29
  Is it is it I think you consider it noise just on the surface.
• 26:35
  But I think that if you dig in and you connect it with other
• 26:38
  stuff, I It is a little bit of signal.
• 26:40
  So goes on to say royal family of Dubai company seed, grew
• 26:45
  partners with coin corner to facilitate Bitcoin transactions
• 26:49
  in the United Arab Emirates. That's where Dubai has and then
• 26:55
  Bahrain approves Bitcoin and shit.
• 26:59
  Coin payments for over five thousand Merchants.
• 27:02
  So, two predominant actually pretty wealthy countries in in
• 27:09
  in the Middle East again. Using, it's not Bitcoin as legal
• 27:14
  tender, but at least they're allowing and shout out to Danny
• 27:19
  from from coin corner by the way.
• 27:21
  He's awesome. Love is socks.
• 27:24
  If you know, you know. But yeah, no dude I don't know
• 27:29
  man. Hmm, I'll tell you, this guy's,
• 27:34
  I'm more bullish about what I'm seeing in Argentina because it's
• 27:37
  a Grassroots movement. It's not from the top down, it
• 27:40
  just people seeking Bitcoin as an alternative because they have
• 27:45
  no other alternative and they're using it as an alternative.
• 27:48
  But it isn't because there is a movement, forcing them to do so.
• 27:52
  Now this news from UAE From, you know, from the country that that
• 28:00
  Dubai is is in and from Bahrain, it's a more top-down approach,
• 28:05
  right? It's you know, it's it's
• 28:08
  companies and people's neighboring, Bitcoin payments
• 28:11
  within the country, but which is bullish because fine sweet.
• 28:14
  I get to use Bitcoin. If I go to Dubai, get to use
• 28:18
  Bitcoin, if I want to spend my Bitcoin use Bitcoin as money,
• 28:21
  and that's awesome. That's great, but I want to hear
• 28:25
  more news like Argentina. God is the Revolution and you
• 28:29
  see how the other side is reacting.
• 28:31
  You see how the I of f is reacting, right?
• 28:34
  I want to see that. I want to see more and more in
• 28:36
  that, and I think that the revolution here guys is going to
• 28:39
  be, is going to be a bottom-up, right?
• 28:42
  The countries that most benefit from having strong Fiat
• 28:45
  currencies, they're going to try to retain that power as long as
• 28:48
  humanly possible. And then, the countries that
• 28:52
  least benefit from, I mean, that most benefit from Legacy Fiat
• 28:57
  currencies that are able to print their own money dictator,
• 29:01
  non mon their monetary policy. They're going to try to retain
• 29:04
  that power for, as long as humanly possible.
• 29:06
  So, I mean, but it is really cool.
• 29:08
  Shout out to coin Corner, shout awesome from Dubai, also from
• 29:12
  the UAE and awesome from Bahrain.
• 29:14
  I hope I could, I hope I continue to see that more and
• 29:18
  more countries allowing payments to be made in Bitcoin that that
• 29:24
  is some positive news but not as bullish as Argentina.
• 29:27
  Argentina has me so round up this morning.
• 29:31
  Holy crap. We are winning guys.
• 29:33
  That is mass adoption. What do you think the percentage
• 29:36
  of those countries using Bitcoin is going to be 10 years from
• 29:39
  now? But it's gonna be like half the
• 29:41
  fucking country by then 60% 70% and if we get to those numbers
• 29:46
  guys there's absolutely nothing they could do about it because
• 29:49
  at the end of the day what is bitcoin.
• 29:52
  It's peer-to-peer it's very easy for a government to compromise
• 29:56
  and hyeri try compromising Millions upon millions of people
• 30:02
  holding their own Bitcoin by holding their own keys and
• 30:04
  running their own nodes. Good luck, right?
• 30:07
  Anyways Opti, what are your, what are your thoughts on the
• 30:10
  news from the Middle East? Well, I do have a meme in mind
• 30:14
  but I don't want to say it because I think it might be
• 30:16
  insensitive and I'm trying to to work on my sensitivity over
• 30:20
  here. I'm doing sensitivity training
• 30:22
  with Nico, but we were having this conversation in spaces
• 30:25
  yesterday and I think the silver lining of the news coming out of
• 30:29
  the Middle East is that these places are energy rich Nations
• 30:33
  and we should, I think it's going to be very interesting to
• 30:35
  see what the secondary development, you know, the
• 30:38
  secondary effects of of you know, these nations adopting
• 30:41
  Bitcoin, even if it is a like a top-down approach, like Niko's
• 30:46
  saying, I think that we will see some some very big developments
• 30:52
  coming out of the Middle East, in regards to, you know, like
• 30:55
  all your maybe being priced in It's in the future and when that
• 30:58
  happens like man, yeah you guys better buckle up because the
• 31:02
  price is going to go nuclear and parabolic.
• 31:05
  So I think it is very bullish but to your point Nico I'm with
• 31:10
  you I say it all the time and like Bitcoin is an individual
• 31:12
  Revolution and as much as I love to see nation state adoptions,
• 31:16
  you know, people telling that, yeah, this nation is Bitcoin
• 31:21
  friendly. It really starts with the
• 31:23
  individual and it starts with people adopting Bitcoin.
• 31:27
  Simile and realizing that this can help your life and you don't
• 31:30
  need someone to tell you to on bitcoin to get the improvements
• 31:34
  of Bitcoin. I love seeing individuals,
• 31:36
  making those decisions for themselves and realizing that
• 31:39
  yell Bitcoin can help me in my life.
• 31:41
  And the more we see people doing that, on an individual level,
• 31:45
  the more this revolution cannot be stopped.
• 31:47
  So again, I think I'm becoming a broken record Because of You.
• 31:51
  Niko South custody is the Revolution and I love seeing
• 31:54
  individuals starting to take their own keys and say, Even
• 31:57
  Bitcoin and take the responsibility back and their
• 31:59
  money. So, it's a bullish day, man.
• 32:02
  I I know I said, I'm jacked up on coffee, but now I'm just
• 32:04
  jacked up on all this news. So let's go man.
• 32:06
  What a morning? Let's go.
• 32:09
  What a morning, anyways, let's get to the culture.
• 32:11
  Hopefully, we could, we can get eight Adrian.
• 32:14
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• 32:43
  All right guys before we get to that guys.
• 32:46
  You're not going to want to miss this Bitcoin conference, it's
• 32:50
  going to be the biggest Bitcoin conference on the west coast.
• 32:53
  It's November 10th through the 11th in Los Angeles, California.
• 32:57
  Michael sailor. Just announced that he's going
• 32:59
  to be speaking there. We also have Corey Clinton CEO
• 33:03
  of swan, Jeff Booth, Dylan Leclair Lynn, Alden Pierre,
• 33:07
  Richard Eric koston guy Swan Mark Moss Parker Lewis dr.
• 33:12
  Jeff Ross Opti and I are also going to be doing A live show
• 33:17
  from Pacific Bitcoin. You definitely don't want to
• 33:22
  miss out on the celebration. You can take advantage of the
• 33:26
  promo code, simply to get a huge discount on your Pacific Bitcoin
• 33:33
  tickets. Well, Nico first and foremost, I
• 33:36
  thought this meeting was fitting, there's Bitcoin and
• 33:39
  there should coin. And I have Congressman Warren
• 33:42
  Davidson right here in meme format because this is what
• 33:46
  Continue to double down on and people still think that we are
• 33:51
  just chilling our bag. So before I get into the
• 33:54
  Financial Times article that we're going to cover today, I
• 33:56
  want to give some context here. If you guys remember in your
• 34:00
  studies, Parker Lewis is gradually.
• 34:02
  Then suddenly series. I highly recommend you guys go
• 34:05
  read them, continue to, you know, double down on the basics
• 34:10
  and the education on there. So I picked this one Bitcoin
• 34:12
  can't be copied and I picked up some highlight point so that
• 34:16
  that I can give you guys some context before we go into
• 34:19
  debunking this Financial Times article.
• 34:21
  So Bitcoin value function to this day, Bitcoin software code.
• 34:25
  You can copy the code tomorrow or create your own variant with
• 34:28
  a new feature and no one that has adopted Bitcoin as money
• 34:30
  will treat it as such Bitcoin has become money over time.
• 34:33
  Only as the Bitcoin Network developed emergent properties,
• 34:36
  that did not exist at Inception and which are next to impossible
• 34:40
  to replicate. Now that Bitcoin exists these
• 34:42
  properties emerge organically and spontaneously as Individual
• 34:46
  economic actors all over the world evaluated Bitcoin and
• 34:49
  determined to store portion of their wealth in it.
• 34:53
  And as that process has continued the value of Bitcoin
• 34:56
  increase, but there remained reasonable debate, as to whether
• 34:59
  Bitcoin is sufficiently, decentralized of sufficiently
• 35:02
  censorship resistance. But while this may be the case,
• 35:04
  there are other considerations less subjective to debate.
• 35:07
  One Bitcoin represents by far. The most decentralized and most
• 35:11
  censorship resistant monetary system in the world today
• 35:14
  whether compared to traditional These other digital currencies
• 35:17
  or Commodities like gold Bitcoin derives, its value because it is
• 35:21
  decentralized on because it is censorship resistant and it is
• 35:25
  these properties which secure and reinforce The credibility of
• 35:28
  Bitcoins fixed 21 million, Supply, Bitcoin becomes
• 35:31
  increasingly decentralized and increasingly censorship
• 35:34
  resistant. As its value increases.
• 35:36
  And as it scales at all levels of the network and you continue
• 35:40
  to repeat Bitcoin is valuable not because of a particular
• 35:45
  feature. But instead Because it achieve
• 35:47
  finite digital scarcity through which it derives its store of
• 35:50
  value property, The credibility of Bitcoin scarcity, only exists
• 35:54
  because it is decentralized and censorship resistant which in
• 35:58
  itself has very to do with the software one.
• 36:01
  Would this conclusion? Without first developing their
• 36:04
  own own understanding of the following one that Bitcoin is
• 36:08
  finitely scarce, the how and the why to that Bitcoin is valuable.
• 36:12
  Because it is scares and three. That monetary networks tend to
• 36:15
  one Mm, you may come to different conclusions but this
• 36:18
  is the appropriate framework to consider when contemplating
• 36:21
  whether it is possible to copy or out compete with that context
• 36:25
  in mind this article dropped today on financial times.
• 36:30
  And of course, we have more fun and more countering of the
• 36:34
  quote-unquote, Bitcoin, maximalist narratives.
• 36:36
  And if you guys have remember, if you scroll down memory lane,
• 36:40
  you may remember Gemma Kelly. She has been putting it over
• 36:44
  time. Trying to Make Bitcoin
• 36:47
  maximalist, look bad, make the whole quote unquote.
• 36:50
  Crypto spear look bad and she just dropped this article and
• 36:53
  man, it is atrocious. I really like how in the first
• 36:58
  paragraph or so she says, I'm trying to steal me on these
• 37:00
  arguments and fundamentally is working with Straw Men but
• 37:04
  that's neither here, nor there, let's get into this.
• 37:06
  So the title of this article is don't believe the maximalists
• 37:09
  Bitcoin. Can't be separated from crypto.
• 37:12
  So I just highlighted a few points here so we can get into
• 37:15
  the Conversation. And she goes Bitcoin.
• 37:17
  The bitcoiners tell me is not crypto and you understand
• 37:20
  crypto, bad and Bitcoins. Good.
• 37:22
  And remember what we just showed you in the beginning with JP
• 37:27
  Jamie dimon and JP Morgan and how they literally switched it
• 37:30
  all around on us and we're taking 2017 narrative.
• 37:34
  So anyways why do the coin maximalist the purists who argue
• 37:37
  that Bitcoin is the only cryptocurrency has value make
• 37:40
  this claim they state that the organic way that Bitcoin came
• 37:43
  into being cannot be Reckless replicated in that while.
• 37:46
  Coin can be copied. It will always have a first
• 37:48
  mover advantage and thus cannot be unseated.
• 37:51
  But while you see, can see, why bitcoiners might be Keen to
• 37:56
  distance themselves from the plethora of scams and failures
• 37:58
  that have curd and shit Cohen land, their arguments, don't
• 38:02
  stand up. It doesn't matter.
• 38:04
  What's Bitcoins Origins were the creator of Bitcoin might have
• 38:07
  intended it to be used as money but that does not make it.
• 38:09
  So it fulfills none of the necessary criteria and instead
• 38:12
  operates in a pyramid-shaped structure that relies on
• 38:16
  Constantly recruiting new members, just because you say
• 38:19
  where's Gemma doesn't mean them true?
• 38:21
  And I will debunk this afterwards, but second Bitcoin
• 38:24
  is not. In fact, decentralized, not only
• 38:26
  do minor groups together to form, mining pools.
• 38:28
  But wealth is also hugely concentrated and she uses
• 38:32
  microstrategy and Michael Sailors, and example of wealth
• 38:35
  concentration first-mover Advantage does not always last.
• 38:39
  Finally, there's not even an agreement on what Bitcoin is low
• 38:44
  absolute laws. Anyways, the real In Bitcoin
• 38:46
  maximalist, want to separate Bitcoin from the rest of crypto
• 38:49
  is to create the illusion of scarcity.
• 38:51
  In a world where there is none if there is infinite Supply.
• 38:54
  How can there be any value? This is still the core problem
• 38:57
  of crypto and become can't solve it again she is correlating the
• 39:02
  idea that Bitcoin and shit coins are the same and the fact that
• 39:07
  you can recreate and create your own shit coin means that there's
• 39:10
  an infinite supply of cryptocurrencies and there he
• 39:14
  goes with the kicker at the end. This is not the Say that there
• 39:16
  aren't some crypto projects and tokens that are better than
• 39:18
  others but a spade, no matter how shiny is still spade and
• 39:23
  Bitcoin. I'm afraid is still crypto
• 39:26
  anyways. I was going to do a full debunk
• 39:28
  of this article but name cos apology on probably ruining your
• 39:34
  name, did it for me. So we're just going to go
• 39:36
  through a few points and then add one more article to
• 39:39
  completely put the nail on the head.
• 39:41
  So In the second tweet right here, the origin is key in
• 39:45
  decentralized systems. It can set privileges early on
• 39:48
  creating a cemetery between Founders developers and regular
• 39:51
  users in Bitcoin, there was no pre mind and the Creator got BTC
• 39:55
  the same way as anyone else by mining.
• 39:58
  I know you've heard the mean the Immaculate Conception of Bitcoin
• 40:03
  is the reason why Bitcoin is different Bitcoin had value
• 40:07
  before it had a price and this is why no shit coin.
• 40:10
  Can come close to bitcoin because every shit coin, every
• 40:14
  crypto was created after Bitcoin was created with the idea that
• 40:18
  I, the creator of this coin can get rich.
• 40:21
  Bitcoin is the only one that is separated from that idea because
• 40:25
  the free market gave it value when it had none from jump.
• 40:30
  Anyway, so tell she created bitcoin as money.
• 40:32
  It might not be a unit of account or widely accepted
• 40:34
  medium of exchange, but it's beginning to be viewed as a
• 40:37
  store of valuable. First, it comes from
• 40:39
  collectible, then it goes to store value, then it goes to
• 40:41
  means of Exchange. And it is a unit of account, it
• 40:44
  just organically progresses the stages.
• 40:47
  And as we just showed you in in the new section, Bitcoin is
• 40:51
  being adopted around the world as a unit of account as money as
• 40:54
  a means of exchange, but it does start as a store of value.
• 40:57
  So fundamentally Gemma doesn't understand how money Works.
• 41:01
  How what how what true economics is she is definitely ingrained
• 41:07
  with the Fiat mentality of being a Keynesian economics but money
• 41:11
  Works through these stages and Bitcoin is doing all these
• 41:14
  stages at one time. It was at first the collectible
• 41:17
  before it had money and now it's becoming a store of value.
• 41:21
  But at the same times it is a means of Exchange in the unit of
• 41:23
  account we say it all the time sats are the standard we price
• 41:27
  all assets and SATs and this is why most people are so bullish
• 41:31
  but I don't know about you guys. I be using Bitcoin all the time.
• 41:34
  It is my money and just because you write an article doesn't
• 41:37
  mean that it's not my money anyways.
• 41:40
  Perhaps the more importantly, though, Satoshi.
• 41:42
  It Bitcoin as money without intermediate errs and its cash
• 41:46
  peer-to-peer money, poured, it onto the digital realm, the
• 41:48
  first successful attempt, thanks to proof-of-work as previously.
• 41:52
  A central Authority was needed to keep track of users.
• 41:55
  Balances again guys, I always tell you to go back to the white
• 42:00
  paper and it's in the first paragraph her I'm not exactly
• 42:03
  sure if it's an asked abstract I'll have to go back and clarify
• 42:06
  this but one of the first things to tell she ever said is the
• 42:10
  reason we are in this situation. Ation right now is because we
• 42:14
  have outsourced our trust and the Legacy system is built on
• 42:17
  this trust and they have abused as trust.
• 42:20
  Hence why Bitcoin is different? Because you don't need an
• 42:24
  intermediate or you don't need a middleman to use Bitcoin.
• 42:26
  This is a feature, not a bug in, this is what separates Bitcoin
• 42:29
  from everything else because all other shit coined are dependent
• 42:33
  on a small group of people to either be the creators of the
• 42:37
  coin to be the developers of the corner to be the foundation, you
• 42:41
  know, controlling the coin. It sounds a lot like what the
• 42:44
  Federal Reserve and the central bankers and the central planners
• 42:46
  are doing. But on the blockchain much
• 42:49
  Innovation much. Wow, that's sarcasm Bitcoin is
• 42:53
  different, there's Bitcoin and their shit coin.
• 42:55
  Now this one is full of common misunderstandings
• 42:58
  decentralization and Bitcoin is measured by nodes not miners are
• 43:01
  capital. That's because miners don't own
• 43:03
  the network. See the block size Wars, and
• 43:06
  capital does not create special privileges.
• 43:09
  How many times have we told you on this show Jessica's?
• 43:12
  Michael say, Taylor has hundreds of thousands of Bitcoin and you
• 43:15
  know, big whales own more Bitcoin than you.
• 43:17
  It doesn't mean they have special privileges on the
• 43:20
  network. They just have more well,
• 43:22
  doesn't mean that they can control the network, which is
• 43:25
  very interesting because I'm pretty sure that she was
• 43:28
  referencing ethereum proof of stake as something that is
• 43:30
  better than Bitcoin in this article.
• 43:33
  And that is literally what happens on proof of stake.
• 43:35
  If you have more money, you can influence the network.
• 43:38
  But Bitcoin is different. And if you guys remember, go
• 43:40
  down memory, lane, the whole 17 block size Wars was based on
• 43:45
  this very thing. This is why we tell you guys to
• 43:48
  use a note, run a node verify your transactions because the
• 43:52
  users of Bitcoin control the network because you run the
• 43:55
  rules that you want to run. No, one can tell you what
• 43:58
  Bitcoin is except for you, your individual decision, your
• 44:01
  individual Consciousness. Your rational decisions is what
• 44:05
  makes Bitcoin Bitcoin in the free market has found a selling
• 44:08
  point on bitcoin BTC. The next one was such such an
• 44:12
  organic beginning of Bitcoin. Don, the features aspect Bitcoin
• 44:16
  is a protocol and protocols need to be reliable stable secure and
• 44:20
  with almost perfect up time. It's also peer-to-peer something
• 44:23
  the features the others alluded, would totally undermine,
• 44:26
  including proof of stake. And this is one of the crucial
• 44:29
  points here. When people call Bitcoin upon z
• 44:32
  a pyramid scheme, there they are relating.
• 44:34
  The idea that Bitcoin is a company that there's someone in
• 44:38
  control that is, you know, creating the products.
• 44:41
  And and During that some money goes to the new entrance but I
• 44:45
  don't know about you guys. Bitcoin is a monetary protocol
• 44:48
  that we use as money and I'm not selling my SATs to someone else.
• 44:52
  I'm not dumping my bags on someone else, I am storing my
• 44:55
  coin because I realized that Bitcoin is monetary empowerment.
• 44:59
  Bitcoin is freedom and I'm opting out of the system and you
• 45:02
  cannot have these sets. Anyways, the last point from
• 45:05
  this thread and I put the thread in the descriptions or I will
• 45:09
  put the thread in the description and you guys should
• 45:12
  definitely Read it and read the articles that I'm tagging as
• 45:14
  well. But yes, there is an infinite
• 45:16
  supply of crypto token shit coin tokens and that's exactly why
• 45:20
  they are shit coins. They are controlled by
• 45:22
  foundations that can change rules on a whim including
• 45:24
  supplies, see ethereum, nobody controls Bitcoin and that's why
• 45:28
  it's Bitcoin and not crypto again.
• 45:31
  There's Bitcoin and there, it should coins.
• 45:33
  So to thoroughly debunked the idea that Bitcoin is not a
• 45:37
  pyramid scheme. Again, I am referencing Parker.
• 45:39
  Lewis is gradually. Then suddenly let's Looking at a
• 45:43
  classic definition of what a pyramid scheme is in the classic
• 45:46
  pyramid scheme participants at to make money solely by
• 45:48
  recruiting new participants into the program.
• 45:51
  But despite their claims to have legitimate products or services
• 45:54
  to sell these fraudsters, simply use money coming in from new
• 45:58
  recruits to pay off early stage investor.
• 46:01
  I really wish that when I bought Bitcoin or when new people buy
• 46:03
  Bitcoin that I would get their Bitcoin, a semi one Bitcoin,
• 46:06
  I'll give you two Bitcoins. That's for me, it doesn't work
• 46:09
  that way with pyramid schemes. There's always some company and
• 46:11
  it is selling a A product for which the end demand Falls far
• 46:14
  short of the available Supply, the company recruits
• 46:17
  participants to purchase inventory and to recruit new
• 46:20
  participant, the participants are always salespeople and
• 46:23
  compensation is tied mostly to recruiting rather than selling
• 46:27
  the actual product. Everyone up.
• 46:29
  The chain can make money at the expense of the new recruits at
• 46:32
  the end of the line. This is a pyramid scheme and
• 46:34
  Bitcoin is not a pyramid scheme. Bitcoin is not accompany, it has
• 46:38
  no employees and its Supply is finitely scares.
• 46:41
  No matter how many people would. Up there.
• 46:43
  There were only ever be 21 million Bitcoins, and this is
• 46:46
  the beauty, and this is a distinction that should be
• 46:49
  glaringly obvious. But because Bitcoin is so
• 46:52
  complex because money is so complex.
• 46:55
  It is not well understood and it is easily confused and Bitcoin
• 46:59
  will only become a global Reserve currency of hundreds of
• 47:01
  millions. If not billions, more adopted,
• 47:04
  and seemingly everyone Bitcoin Rabbit.
• 47:06
  Hole ends up on the other side. Explaining it to their family
• 47:08
  and friends pitching it as a better form of money.
• 47:11
  Sounds like a pyramid. When scheme, right?
• 47:13
  Yes. Maybe but when Dell started
• 47:15
  selling PCS on its website in 96, and everyone told their
• 47:18
  friends to get a gun Dell. Was it a pyramid scheme when
• 47:21
  Apple released the first iPhone in 2007?
• 47:23
  And everyone told their friends to drop Blackberry for its
• 47:26
  Superior. Successor, was it a pyramid
• 47:28
  scheme? No, technical technological
• 47:30
  shift often happen fast, and the value.
• 47:33
  Proposition of an innovation Trump's all else.
• 47:35
  It does not matter how you learn about Bitcoin or The Innovation,
• 47:38
  the technological innovation. All that matters is whether the
• 47:41
  innovation. Bad utility.
• 47:43
  And if it does people will want to use it.
• 47:46
  And if it doesn't they won't, this is what makes a market.
• 47:50
  Did we not just cover this in the new section?
• 47:52
  People all around the world are starting to reactivity of
• 47:56
  Bitcoin, the 21 million hard cap is the Innovation here because
• 48:01
  proof-of-work ensures that no one can dilute your money in a
• 48:04
  world of infinite paper money in a world of paper Ponzi world.
• 48:09
  No one can create more than 21 million Bitcoins in.
• 48:12
  This is a a feature, not a bug but furthermore, in a world
• 48:15
  where we are completely controlled by tyrants and
• 48:18
  authoritarians that want to shut you off of your financial system
• 48:21
  and want you to use. Cbbc's censorship resistance is
• 48:25
  their utility that Bitcoin offers including other utilities
• 48:29
  that, you know, our maybe, maybe more personal.
• 48:32
  But anyways, Bitcoin utility is as money, it has a market
• 48:35
  because it solves a problem inherent in modern money.
• 48:38
  Not only is Bitcoin not a pyramid scheme it is
• 48:40
  fundamentally distinct from the class of Innovation that could
• 48:43
  be offered by any individual company.
• 48:45
  Bitcoin is not Del, it is not Apple.
• 48:47
  It is not a tech stock. There's no company that exists
• 48:50
  behind Bitcoin. Bitcoin is not a company selling
• 48:52
  a product and there's no income stream to pay.
• 48:54
  Future dividends be coin is not about making money.
• 48:57
  Instead, Bitcoin is money or at least it had become money to,
• 49:00
  those choosing this Torah portion of their wealth in it,
• 49:03
  and it's not a get-rich-quick scheme.
• 49:04
  It is fundamentally about storing, the value have already
• 49:07
  created. Bitcoin is a better asset and
• 49:09
  however, unlike a bearer Bond, there is no income.
• 49:12
  Stream guys, if Bitcoin was a pyramid scheme, I don't think
• 49:19
  all you guys would be scammers out there.
• 49:22
  And as, and I say this obviously sarcastically and as a joke,
• 49:26
  because I recommend everyone read everyone's a scammer by B
• 49:29
  seen. I think I've recommend that on
• 49:31
  this show continuously like I beat a dead horse because I
• 49:35
  fundamentally believe that if Bitcoin was a pyramid scheme,
• 49:39
  then you guys would not want to hold Bitcoin and I don't know
• 49:41
  about you, but I Bitcoin and I hoard Bitcoin and I want as many
• 49:45
  sets as possible and you're not going to get them out of my dead
• 49:48
  hands, like you may get them, I'll probably donate them to the
• 49:51
  system unless I figure out some kind of way to further my
• 49:56
  Bitcoin stash. Anyways, up in a pyramid scheme,
• 49:59
  the people selling the scheme are the scammers but in most
• 50:02
  cases today whenever someone buys Bitcoin, they are directly
• 50:05
  trading a fractional Reserve form of currency with the
• 50:07
  promise of future debasement in return for a better asset with a
• 50:11
  finite Supply and A vastly superior monetary policy, the
• 50:15
  person on the other end of the line is, getting the Raw Deal.
• 50:17
  It is not to say that literally everyone that sells Bitcoin
• 50:20
  does. So, without good reason, it is
• 50:22
  money after all, and it's utility is an exchange.
• 50:25
  By definition Market, participants have a wide variety
• 50:28
  of present needs for liquidity and real values transferred.
• 50:31
  Every time a Bitcoin is transacted.
• 50:33
  Whether four dollars are for goods and services.
• 50:35
  However on average and over the long term it is information and
• 50:39
  a cemetery in full effect, bitcoind monetary Is optimally
• 50:43
  engineered incredibly enforced though, few understand it, which
• 50:46
  is why it represents the greatest a cemetery in the world
• 50:50
  today. And this is why the financial
• 50:53
  times continues to miss the point.
• 50:57
  I think we've covered it a few times I went along today, Nico,
• 51:00
  but I had to go in deep on this one and it's becoming very clear
• 51:04
  to me. I we've said it yesterday.
• 51:06
  We've said it so many times on this show that, yes, you can
• 51:11
  naively believe that. These people don't understand
• 51:14
  what is going on here, that maybe they just need more
• 51:16
  education that they haven't done the Deep dive.
• 51:19
  Down the rabbit hole, but I fundamentally believe that most
• 51:23
  Legacy Media is bought and paid for hence why they are spreading
• 51:26
  this information this way so that they can continue to stop
• 51:29
  people finding the exit door. And this is why we continue to
• 51:33
  double down and tell you that Bitcoin is the best money in the
• 51:35
  world. And you need to opt out with
• 51:37
  Bitcoin because they are stealing from you with Fiat
• 51:40
  money. Anyways Nico I ranted enough
• 51:42
  What's your thoughts? Yeah man.
• 51:46
  Dude, first of all phenomenal job.
• 51:49
  It's so important that we at least provide a counter
• 51:52
  narrative to, you know, they're not mainstream media anymore.
• 51:57
  Their legacy media, and the financial times many, many times
• 52:02
  in the way that they frame, El Salvador.
• 52:04
  And then the way they frame Bitcoin, these are the
• 52:08
  Publications that people like Jamie Diamond are reading, you
• 52:11
  know, that's why they release. Articles, it was the infamous
• 52:13
  Financial Times article that said, please stop calling
• 52:18
  Bitcoin. I mean Fiat currencies a meme
• 52:21
  because they're not, you know, that that's where these people
• 52:24
  are coming from. And if you want to know who we
• 52:27
  enemies of Bitcoin, what that what the things that they read
• 52:31
  our, it's those types of Publications?
• 52:35
  Yeah, man, it's it's bullshit, it's misrepresentations.
• 52:39
  If you H, if you're attacking Bitcoin maximalism if you're
• 52:44
  attacking Bitcoin fundamentalism, whatever you
• 52:46
  want to call it. The reason that you're doing
• 52:48
  that is because you're a scammer, right?
• 52:51
  And and Bitcoin, Maxis are the ones that call out your bullshit
• 52:55
  and they let you know what's going on and they expose what,
• 52:58
  what angle you're coming from. Right?
• 53:00
  So yeah, you go pound sand. That's my response to them,
• 53:03
  right? But you did a great job and yet,
• 53:06
  don't totally it. Dude.
• 53:07
  It's part of the culture, man. It's is what about this is
• 53:10
  narrative. Trench warfare.
• 53:12
  We're we're on the front lines. You guys on the front lines,
• 53:15
  every tweet that you make every response that you make, every
• 53:19
  meme that you make counts, is about winning over the hearts
• 53:23
  and minds. And this is what we're going to
• 53:25
  do is what we pride ourselves in doing it simply.
• 53:28
  We provide a counter narrative to the dying Legacy Financial
• 53:32
  medium. We're going to win this and
• 53:34
  there's absolutely nothing that you guys could do about.
• 53:37
  There's nothing you guys can do about it.
• 53:39
  We have better memetics than you guys do.
• 53:42
  Anyways Adrian are you finally here brother?
• 53:45
  Could we hear you? I'm here but I'm muted.
• 53:50
  You're on mutinous, guys. Yeah.
• 53:57
  What can I say? Bitcoin will win.
• 54:01
  I've been able to hear the last little bit of what you guys have
• 54:03
  been saying because I just been struggling to get this
• 54:05
  connection working here. Yeah, we have to we have to
• 54:10
  rebook you my friend on another day so we get you we get you
• 54:13
  whatever. But hopefully we can get it, we
• 54:15
  can get you to see, the whole mean review.
• 54:17
  Let's do this. Awesome.
• 54:20
  The daily meme review, brought to you by B box to bitcoin, only
• 54:25
  additional Hardware wallet by shift crypto crypto like
• 54:28
  cryptography. It's secure, it's open source
• 54:31
  and it's so easy, your mom can set it up.
• 54:34
  Self custody, is the revolution in the bit box, makes it simple.
• 54:38
  Do not leave your Bitcoin on an exchange order.
• 54:41
  A bit box today. Order a fucking bit box today,
• 54:45
  bro. All right, self custody your
• 54:47
  pants. Go.
• 54:48
  All right. You already know the meme tweets
• 54:51
  are the bullets. And memes are the artillery in
• 54:53
  this information War. Guys, you are the Frontline
• 54:56
  soldiers. Continue to spread the sound of
• 54:58
  money, gospel. Yes, memes are entertainment,
• 55:00
  but they pack a strong punch in the incept ideas.
• 55:04
  And this is why we need to also create cause of actions in our
• 55:08
  Memes. But first and foremost, I picked
• 55:10
  this meme because I know you guys remember the pandemic.
• 55:15
  Hashtag, I a member, and I remember seeing these these
• 55:20
  similar similar signs on people's people's yards, but
• 55:24
  this is the Bitcoin version chefs out to at symbol Satoshi
• 55:28
  or set symbol. And they go in this house, we
• 55:31
  believe Satoshi is a genius if it's not Bitcoin, it's a shit
• 55:34
  coin. The government works against us,
• 55:36
  cbc's are anti Human Rights. CA is the way, not your keys.
• 55:40
  Not your Bitcoin, one Bitcoin, equals one Bitcoin sats are the
• 55:44
  standard. Absolutely, beautiful meme guys,
• 55:47
  because hey, so much wisdom is packed into this little meme
• 55:51
  that you can unpack, the each Meme and and go in for a long
• 55:55
  time. Like me and Nico could rant
• 55:57
  about one of these lines for a long, long time.
• 56:00
  But this is the power of means because it gives you guys a
• 56:04
  distilled true. So on to the next one chefs out
• 56:07
  to my boy rope and he goes spoil alert.
• 56:10
  There are none. This is where we keep all the
• 56:13
  shit coins with a use case. Let's go.
• 56:18
  Absolutely beautiful and for those in the space it's the lady
• 56:21
  look pointing at an empty cupboard board.
• 56:24
  This next one is by at georgg shuts out Tudor Gigi and he goes
• 56:29
  accurate, hashtag Bitcoin. And this one is really also
• 56:33
  another deep meme. As you can see the top left.
• 56:36
  This is a crypto course, quote on quote and we got a teacher
• 56:39
  with laser eyes, another person with laser eyes and it goes the
• 56:42
  evolution of crypto throughout history and it's a long list of
• 56:46
  shit coins that are all culminating down to the mega
• 56:49
  shit coin, which is all Fork off of Bitcoin, the one and only
• 56:56
  true blockchain also called the time change shapes out to the
• 57:00
  time chain Maximus out there. And still I know I thoroughly
• 57:04
  debunked the idea of Bitcoin as a company on the culture.
• 57:08
  But still, this is why we have great memes like this on on
• 57:11
  Twitter because breaking, there's still no comment from
• 57:14
  the Bitcoin. CEO, where are you?
• 57:17
  Bitcoin? See, so breaking news policy in
• 57:20
  the economy. Fed raises rates and the
• 57:22
  Bitcoins. CEO is silent and one.
• 57:26
  Bitcoin equals one Bitcoin remarked to Twitter pleb.
• 57:28
  Guys, imagine if there was a Bitcoin CEO, then we might have
• 57:33
  to actually be concerned with what he says.
• 57:35
  This is a feature, not a bug. So, shuts out to Satoshi
• 57:38
  disappearing, beautiful, beautiful stuff, really, on a
• 57:42
  side note, check out the Tomer Stroh light interview that that
• 57:46
  Nico did because they did a beautiful job in explaining,
• 57:50
  like how powerful and idea is Or how powerful the symbolic
• 57:55
  representation of Satoshi leaving Bitcoin was.
• 57:58
  And furthermore, shout out to my boy on the sun to set and he
• 58:02
  comment this on our spaces. Yes, it because at the end of
• 58:05
  our spaces, we got the news that the Jerome Powell raised or the
• 58:11
  FED raised rates and so he goes absolutely Bitcoin.
• 58:14
  I keep get it's called today. Beware, if you get the same call
• 58:18
  and it's like a photo of your smartphone, it goes scam, likely
• 58:22
  Jerome Powell. Calling.
• 58:23
  Do you like Zapped article on Adonai?
• 58:27
  Oh man I loved it. I loved it.
• 58:29
  And today Captain Bitcoin I added to your memes to round
• 58:34
  this off because I really love the sentiment in this one and
• 58:36
  the first one is stacking saying hashtag Bitcoin.
• 58:39
  And they go stack, insane or remain the same.
• 58:42
  And it's got these Bitcoin barbells.
• 58:45
  This is the way guys, as my buddy is a Kobe says it's like
• 58:48
  stack your balls off. Or remain not a legend.
• 58:53
  This is why you will not be remembered if you don't stack
• 58:56
  insane, guys. Anyways, this last one again.
• 58:59
  This is my captain Bitcoin and I really like this because
• 59:03
  bitcoiners have a way of repurposing, you know, old
• 59:07
  wisdom and making it into an even more solid Meme.
• 59:11
  And he goes, get your money off exchange and control your
• 59:13
  Bitcoin. And this is a Warren Buffett
• 59:16
  quote, but I'm not going to read the actual Warren Buffett,
• 59:18
  quote. I'm going to read the upgraded
• 59:20
  vote, a quote, and Those, if you cannot control your keys, you
• 59:23
  cannot control your money. Let's go.
• 59:26
  This is the way guys, this is why we tell you all the time
• 59:29
  self custody is the Revolution. Take your Bitcoin off exchanges,
• 59:33
  exchanges are not wallets, put your Bitcoin in South custody in
• 59:37
  a wallet where you own the private keys.
• 59:40
  And use a notes that you verified as Bitcoin and go live
• 59:43
  your life. I say this all the time, provide
• 59:45
  the value, get the Bitcoins and go and live your life.
• 59:48
  So Drop Your Meme review. Score in the chat while we give
• 59:53
  you hours. And here we go.
• 59:56
  My mean review score for today is, I think this might be the
• 59:59
  last bit Meg sticker. I have, I will have to look if I
• 1:00:03
  have other variations but I got this Bitcoin logo sticker.
• 1:00:09
  It's got Is in stripes and it's American color because Bitcoin
• 1:00:15
  is instilling the American ideals on the blockchain,
• 1:00:17
  convince me, otherwise anyways, Nico.
• 1:00:19
  What is your main review score? I'm I am back in Florida.
• 1:00:25
  I am no longer in Puerto Rico, I'm going to give it the
• 1:00:29
  original crypto. Cloaks microphone case that he
• 1:00:33
  gave me when we started. The orange pill.
• 1:00:39
  Orange pill might cover it, I like it.
• 1:00:42
  I like it. It's definitely a throwback.
• 1:00:44
  I'm gonna hang this up. I no longer I retired.
• 1:00:47
  This microphone. Anyways, guys, we want to know.
• 1:00:50
  What do you think about those memes?
• 1:00:52
  What do you think about those memes?
• 1:00:54
  First Rope Rope? No, but you got to scroll up
• 1:00:57
  here, Opti, I got, I got it today.
• 1:00:58
  Don't worry by Luca. No, no.
• 1:01:02
  Here we go. This is the first one by Andres.
• 1:01:04
  I give those memes Nico over cook steaks.
• 1:01:07
  Okay, okay, little jab. I like a medium.
• 1:01:10
  They're not overcooked. I give those memes.
• 1:01:11
  One basis point rate hike. Okay, I get roped says, I give
• 1:01:16
  those memes, all the caffeine surging through opt he's veins.
• 1:01:20
  Let's F and go air horns. We got Jay play by give those
• 1:01:25
  memes, one big oil, greasy red, mustache Loco says, I give those
• 1:01:31
  memes my dog, yellow. I give those memes zombie rum
• 1:01:36
  cocktail. I hit up yellow yesterday, I was
• 1:01:38
  like, yo, I got something for you.
• 1:01:40
  He's like, Nico, I'm drunk, leave me alone.
• 1:01:46
  I give those memes and AR-15 Z logic says, that's a great
• 1:01:51
  score. By the way, I give those memes.
• 1:01:53
  A buy Bitcoin, shopping cart sticker, great score, my friend,
• 1:01:58
  great score. We got Michael Morrison.
• 1:02:01
  He says, I give those memes a Bitcoin eyes, live, live laugh,
• 1:02:06
  love decoration. And last but not least, narwhal
• 1:02:10
  tacos. I give those memes the Shaving
• 1:02:13
  whiskers In My Sink, please. Okay, nice, nice.
• 1:02:16
  Nice. It's going very good scores.
• 1:02:18
  Very good scores guys. I also want to give a very
• 1:02:21
  special shout out if you want your mean to be included in the
• 1:02:25
  meme review, this is absolutely free.
• 1:02:27
  You got to go to T. Dot me slash the simply Bitcoin
• 1:02:33
  Channel. That's a link to the simply
• 1:02:35
  Bitcoins telegram group. It's absolutely free.
• 1:02:38
  It's a hangout on there. Was going to be plebs.
• 1:02:41
  Just talk exposing the clown world.
• 1:02:44
  So many exposing the clown World means it's a great time.
• 1:02:48
  I think we're over 500 people now guys.
• 1:02:50
  You definitely want to join this telegram group.
• 1:02:52
  But anyways, Opti there was a website by there was a there was
• 1:02:55
  an open source software release today.
• 1:02:57
  Let's check it out. Bitcoin software release brought
• 1:03:02
  to you by Cipher safe, don't be that person that loses their
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  Bitcoin seed. Due to fire damage water damage
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  dog. Attacks back up your
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  generational Bitcoin wealth on steel and there's no better
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  place to do it, then the cipher grid by Cipher save and now
• 1:03:21
  check out their new Bitcoin art the Bitcoin rulebooks triangle
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  only on Cipher safe dot IO. All right, guys, I want to give
• 1:03:30
  a shout-out to Specter. Desktop version. 1.1 3.00,
• 1:03:37
  Specter desktop is a software Bitcoin wallet, right?
• 1:03:43
  You could download it. You can use it as your main
• 1:03:46
  Bitcoin wallet. There's also Sparrow.
• 1:03:48
  There's also electrum, it's really up to you which one you
• 1:03:52
  want to use and they just release an update.
• 1:03:54
  So you definitely want to update, don't forget to check
• 1:03:57
  the signature. As before you before, you
• 1:03:59
  download it because you don't want to download it.
• 1:04:01
  You don't want to download something that doesn't come from
• 1:04:04
  the original developers. Of course, the Spectre desktop
• 1:04:08
  wallet allows you to connect any hardware wallet of your choice
• 1:04:11
  to it. And it also allows you to
• 1:04:14
  connect to your own node so that you don't docks your Bitcoin
• 1:04:19
  addresses to them. So definitely go check it out
• 1:04:22
  guys. Check out Specter desktop.
• 1:04:23
  They just released a new software update.
• 1:04:27
  So I want to give a very Special shout out to our awesome
• 1:04:30
  clothing sponsor Opti and I wear the hoodies every single day.
• 1:04:34
  I'm wearing the masma off one or the represent Max.
• 1:04:38
  Yeah, maximum off, it's orange and I put the orange little
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  orange pin here. Looks badass Opti.
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  Why don't you show the back of the decentralized?
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  One model for the audience. That's right.
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  Represent decentralised corpse. Definitely want to check it out
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  guys. You can take advantage of the
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  promo code to get 10% off anything off the represent.
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  D.com store. And I also talked to David, he's
• 1:05:00
  going to be dropping the simply Bitcoin merch is coming soon.
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  We're going to let you guys know about that, it's gonna be
• 1:05:07
  badass. Authentic designed join the
• 1:05:10
  peaceful Bitcoin Revolution. All right, guys, that was our
• 1:05:14
  show. I want to give a shout-out to
• 1:05:16
  Adrienne for attempting to come. He he's having some issues with
• 1:05:20
  these with with the internet guys.
• 1:05:22
  Also check out Simply Bitcoins written version simply Bitcoin
• 1:05:25
  unfiltered Coin dot news. It's totally free.
• 1:05:30
  Shout-out to our writers. Zack, Zack and and Rushton.
• 1:05:35
  They're freaking awesome, guys. If you really enjoyed the show,
• 1:05:38
  it helps us tremendously. If you smash that like button,
• 1:05:43
  if you consider subscribing, if you feel like we provided you
• 1:05:46
  value. And of course, guys like always,
• 1:05:50
  I'll see you tomorrow from Nashville for another episode of
• 1:05:54
  Simply Bitcoin live.